India Steel Market Watch
November 25: A delegation from the steel industry, on November 24, met Commerce and Industry Minister Nirmala Sitharaman and raised their concerns about dumping of the commodity from China, Korea and Japan.
"A delegation from the steel industry met me. Discussed issues arising out of dumping of steel from China, Korea and Japan. Told the delegation that interest of user industry has also to be balanced. Advised steel industry to give data to support their claim," Sitharaman tweeted.
In September, the government had imposed provisional safeguard duty of 20% on imports of certain categories of steel with a view to protecting domestic producers from the recent surge in inward shipments.
In June, India also slapped an anti-dumping duty of up to US$ 316 per ton on imports of certain steel products from China, Korea and Malaysia to protect domestic producers from below-cost inbound shipments.
According to industry sources, the delegation has informed the minister that these duties are not helping the domestic manufacturers and the government should take more steps to contain the dumping.